After being a banker for 17 years, Dubai-born Tanzanian expat turns techpreneur at 36
Three lessons learnt when starting insurance-driven tech platform in the pandemic in 2020
Although it might not be a perfect tale, it is still your story and is sufficient. Javed Akberali, a 38-year-old resident of Tanzania who was born and educated in Dubai, believes as such. He questions the status quo with progressive thinking and thinks that learning and unlearning are necessary for change to occur.
Born and raised in Tanzania, his parents moved to the UAE in search of better opportunities and put a lot of effort into providing a better living for the children.
The idea of pocket money never existed in Akberali’s household, so he never received any. His parents made sure to provide for all of the family’s requirements. He admitted that doing this had given him the discipline to only ask for money when necessary and keeps the “asks” under control while keeping the ability to live comfortably.
“I started at a very junior position and paved my way through the years into senior roles, which gave me confidence” – Javed Akherali
No pocket money meant no burden of budgeting
Having no pocket money relieved him of the need to budget, he continued, but it inspired him to dream big and hold the conviction that anything is possible if you set your mind to it. Akberali now desires to leave a lasting memory for upcoming generations.
He had his first daughter when he was 23 and now has three daughters. He made the transition from the business world to entrepreneurship motivated by his early realization that he needed to secure the future of his family.
His professional journey began with the conventional route of landing a work right out of college, which led him to a position at a financial services start-up that assisted him in expanding his entrepreneurial knowledge and allowing his corporate financial potential to manifest.
“I learned some of the biggest lessons of life here. I started at a very junior position and paved my way through the years into senior roles, which gave me confidence that I was doing something right. I was the youngest vice president in my company.”

“Entrepreneurship is a massive mental undertaking”
“Entrepreneurship is a massive mental undertaking,” Akberali said as he discussed why it took him so long to launch his business. After working for someone else for 17 years, creating companies for the owners, gaining sufficient exposure, and mastering business skills, it finally happened.
Lesson #1: Some entrepreneurial expenses are inevitable and worth the risk
In 2020, he started his entrepreneurial adventure and co-founded the InsurTech platform Wellx, which rewards users with cashback for maintaining good health. Customers then establish goals and, upon reaching them, receive cash vouchers equal to two months’ worth of their insurance premium.
In 2020, he started his entrepreneurial adventure and co-founded the InsurTech platform Wellx, which rewards users with cashback for maintaining good health. Customers then establish goals and, upon reaching them, receive cash vouchers equal to two months’ worth of their insurance premium.
WHAT IS INSURTECH AND WHAT IS ITS PRIMARY GOAL?
Making it simpler for customers to purchase insurance goods, such as life insurance and policies for small businesses, is the goal of insurtech. For instance, customers can now study and purchase insurance online without using an agent thanks to technology.
The pandemic-era start-up collaborated with tech firms to track and monitor people’s physical activity and uses data analytics tools to motivate people to achieve specific lifestyle and health objectives. Together with his business associate Vaibhav Kashyap, he founded the startup.
What has been your experience in setting up a business in the UAE?
Akberali was raised in Dubai and has witnessed its development into a popular travel location. “I have a privilege that most of our family members who are still living at home would be in awe of because I live in this nation. However, with privilege comes a feeling of duty and a desire to give back.
Doing business in the UAE offers a variety of choices and benefits, he continued. Depending on the type and the jurisdictions designed to assist entrepreneurs, these include cost structures that are variable and scaleable.
“For our business, initially, the funding came from friends, family and savings. The money comes when you set out trying to build something that hasn’t been done before in the region. The challenge is to keep that supply of cash running,” Akberali added.

Different expenditures for us included business setup, technology development, marketing to establish our brand and identity, as well as a variety of other startup-related expenses. As a technology business, creating the integrated wellness ecosystem has cost us the most money (50%) overall. A 10% legal expenditure, a 30% marketing expense, and a 10% other expense were included in the other costs.
“The DIFC Innovation Hub has been a huge blessing in terms of access and office space [it offers accelerator programs to tech companies]. There were no additional “setup” costs besides the original licensing costs (which included the virtual desk or lease).
Lesson #2: Deal with the unknown with an entrepreneurial approach of trial and error
According to Akberali, when launching a new business with a novel idea, one must be ready to face the unknowable by adopting a strategy of trial and error, failure, pivot, and restart and reboot.
“Creating meaningful experiences that alter how people live their daily lives has always been at the core of everything,” he said. “The business of experience has always been close to my heart.”
Despite having spent years in the finance industry, he was incredibly confused by the amount of obstacles to overcome from the outside peering in. “The fear of the unknown has been the biggest challenge, from signing up with vendors to creating a website and hiring a lawyer for legal services,” said the author.
“Different expenses for us included company setup, technology build, marketing to build up our brand and identity, and a host of general costs that come with setting up a business” – Javed Akberali
Even after receiving referrals, endorsements, and a track record, he soon realized that what works for some people may not work for others.
It has been extremely challenging to try and launch something without the support of large corporations. because neither they nor we are aware of what we require. The final customer is the only one who is aware of this. Thus, navigating this world of the unknown requires trial and error, failure, pivot, restart, and reboot, said Akberali.
“The uncharted territory may be thrilling, and that’s where success lies, but only when you believe in what you want to achieve is bringing a life-saving solution for the people of today.”
Lesson #3: Seek business opportunities when navigating through times of economic difficulties
Akberali was highly motivated to find opportunities to prosper from a very early age due to his experience navigating through multiple economic cycles, including the highs (or lows) of the recession of 2008 and the pandemic of 2020.
“I firmly believe that you should always be open to learning from, imitating, and being inspired by great people. Make each day matter while keeping the big picture in mind.
“Learning to live with uncertainty. recognizing it. We’re taking it in equanimity. All of this is crucial, as is not getting caught up in the past but rather looking forward to what lies ahead. Keep your eyes on the prize, stay dedicated to the cause, be persistent, resilient, and flexible along the way. This has been our formula for success and is what motivates us every day.
In one word, he encapsulated his experience: resilience. “No matter the problem, there is always a solution; if you are crazy enough, a chance will appear out of thin air. That’s what I’ve learned the most.